Germany blocking SRM as ECB supervisory role is approved
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Germany blocking SRM as ECB supervisory role is approved

The European Council on Tuesday failed to make progress on the Single Resolution Mechanism (SRM), although it approved legislation to install the European Central Bank as single supervisor for eurozone banks. As some market participants expressed concern that upcoming stress tests could plunge European banks back into crisis mode, the ECB said it would release more detail on how the tests would be conducted next week.

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